Other prominent entities contributing to the ETH staking ecosystem are crypto exchanges Coinbase (14.04%) and Binance (3.75%) and Ethereum staking platform Kiln (3.5%).
The recent influx of Ethereum stakers brought the market share of liquid staking solution Lido down to 29.57% from 32% in December 2023, helping reduce concerns around Lido’s growing influence on the ecosystem.
Lido’s popularity in Ether (ETH) staking, coupled with the lack of competition in the space, allowed the platform to earn a lion’s share of the ETH staking market.
The community feared that any entity representing over 33% of the market could influence various aspects of the Ethereum chain.
